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The Financial Gravity Podcast

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The Financial Gravity Podcast is a weekly show for entrepreneurs and small business owners about the ins and outs of building a profitable business, including the financial and tax strategies that so many entrepreneurs miss. Hosted by John Pollock, serial entrepreneur and CEO of a publicly-traded company, the podcast features interviews with top entrepreneurs, business leaders and authors, including Michael Port, John Jantsch and Perry Marshall, about the challenges, mistakes and decisions that they’ve made along the path to profitability. With each episode, you’ll gain insights on help you think differently about your business growth strategy and find new paths to profitability and impact.

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Episode 61: Rom Krupp — Using Data to Drive Decisions

< 1 day ago
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54 minutes

Rom Krupp is the CEO of Marketing Vitals, and is very active in the Artificial Intelligence (AI) space, dealing specifically with the restaurant vertical. By employing big data and machine-learning type software, Rom’s company helps restaurants solve the question of what marketing works and what doesn’t. On this episode, he talks about AI in the restaurant industry and how AI can impact the analysis of big data to drive decision making. Key Takeaways: [:19] John introduces his guest for this episode — Rom Krupp. [:55] What is Rom's business and what does he do? [2:12] How did Rom end up in the restaurant industry? [6:29] Why is Rom involved with AI? [9:25] What is the difference in building a machine-learning type software and a typical rules-based software? [13:41] In order for there to be pattern recognition, there has to be a massive amount of data. [15:15] Rules-based software breaks down very quickly if the conditions change, but AI's capability is dealing with the change. [19:28] Rom shares some case studies about his experiences in the restaurant industry. [26:30]There are many companies that misuse the term ‘business intelligence.’ Rom explains how this leads to the challenge of having to overcome negative reception. [28:15] Rom’s business launched in April 2014 but has evolved since then. [30:40] Rom talks about how McDonald’s used data to make some decisions, and some other examples of how restaurants have evolved as a result of making decisions based on data. [36:05] Where is Rom from, and what is his background? [44:32] What is Rom’s unique ability that has brought him to this point? [45:14] Where does Rom see the future of the restaurant industry? How will technology change how employees operate within that space? [48:42] What apps does Rom use? [51:42] Get in touch with Rom via his website! Mentioned in This Episode: Marketing Vitals Rom Kru